Legendary to Tackle 'Godzilla'

Batten down the hatches, Japan: According to Variety, mutant monster Godzilla is all set to stomp back to our screens in 2012, for its first major US reappearance since 1998's critically derided 'Godzilla' (pictured).

In a new deal inked between Legendary Pictures and Toho Co., who own the rights to the pop culture icon, Legendary will co-produce and co-finance with Warner Bros. to reboot the stalled Japanese franchise stateside, with a director expected to be announced shortly.

"We at Legendary are thrilled to be able to create a modern epic based on this long-loved Toho franchise," enthused Thomas Tull, CEO of the production company. "Our plans are to produce the Godzilla that we, as fans, would want to see. We intend to do justice to those essential elements that have allowed this character to remain as pop-culturally relevant for as long as it has."